King River Copper scoping study supports future fluorite mine
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08:39 05 Oct 2018
The board has now authorised the commencement of a pre-feasibility study.
King River Copper Ltd (ASX:KRC) has received positive results from a scoping study update for its Fluorite Project at Speewah in the East Kimberley of Western Australia.
The study outlines an open-pit development path for the fluorite project and the positive business case supports progression to the pre-feasibility study (PFS) stage.
The project’s Windsor fluorite deposit has a combined Indicated and Inferred resource of 6.7 million tonnes at 24.6% calcium fluoride located on granted mining leases. Future operation would be resilient to product price
This scoping study was undertaken to determine the potential viability of an open pit mine with a crushing, separating, milling, and flotation circuit to produce acid grade fluorspar concentrates.
At a product price of A$625 per tonnes acid grade fluorspar, the project comprises an open-pit mining operation with a stripping ratio of 4.0.
The study demonstrates a project cash flow that supports continued investment in developing the project.
Notably, a 20% price drop in the fluorspar price still produced a positive cash flow project with an acceptable return on investment. Board approves PFS
The board have been encouraged by the results of this scoping study to authorise the commencement of a PFS.
It will be completed at a standard to allow reporting an Ore Reserve and an economic analysis.
Key additional studies and test work include metallurgical test work, geotechnical drilling and pit optimisation studies, detailed operating and capital costs, environmental studies and off-take MoUs. READ: King River Copper receives new assay batch, 6 metres at 60 g/t gold
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KRC Price at posting:
5.3¢ Sentiment: Hold Disclosure: Held
